$60-70 per barrel: Russian oil price ceiling may be set on November 23, – WSJ

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$60-70 per barrel: price ceiling for Russian oil may be set on November 23, — WSJ

According to journalists, the value of the ceiling price remains controversial. Poland insists that the price should be at the level of $20 per barrel.

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November 23, the US and allies can agree on the introduction of a price ceiling for Russian oil, and already on December 5, the discussed limit price of $60 or $70 per barrel may be approved, reports The Wall Street Journal.

It is reported that the establishment of a price ceiling may follow as another sanction for a large-scale invasion of Russian troops in Ukraine.

Ambassadors of 27 EU countries will meet on Wednesday, November 23, and discuss the price ceiling. This requires a unanimous decision, and diplomats warn that it can be quite difficult. The G7 countries intend to approve the price ceiling in sync with the European Union. The purpose of such a plan is to limit the income of Russian oil exporters, as well as avoid price increases.

As part of the sanctions, the G7 countries, the European Union and Australia are imposing a ban on the provision of marine services for the supply of Russian oil, unless this oil is sold below the established limit. Western countries hope to use their control of most of the world's insurance, financial and shipping services to impose terms on Russia's oil sales.

The value of the price cap remains a contentious issue< /h2>

The EU leadership has already expressed support for the restrictive mechanism, but a number of unresolved issues remain. The value of the marginal price remains controversial. A number of countries, such as Poland and Lithuania, called for tougher measures. The Polish leadership insisted that the price should be at the level of 20 dollars per barrel.

According to Oleg Ustenko, President Zelensky's economic adviser, if the limit is set at 60-65 dollars, it will be reasonable from the point of view of our allies. But, from the point of view of Ukraine, the price should be minimal – at the level of cost.